Hexaware Tech jumps after broker initiates 'buy'

Hexaware Technologies jumped 3.45% to Rs 800.85 after a domestic broker initiated coverage on the stock with a 'buy' rating and a target price of Rs 950 per share.

The brokerage cited strong growth prospects and attractive valuations post-correction, adding that Hexaware is well-positioned among mid-cap IT firms to outpace larger peers. It expects revenue to grow at an 11% CAGR in dollar terms between CY24-27, driving a 19% CAGR in EBIT and 18% CAGR in EPS, supported by sticky Fortune 500 client relationships and margin expansion as one-off costs ease.

Hexaware is a global technology and business process services company. The company's consolidated adjusted profit rose 7.7% to Rs 386.30 crore in Q2 June 2025 (Q2CY25) over Q1 March 2025 (Q1CY25). Consolidated revenue rose 1.6% QoQ to Rs 3260.70 crore in Q2CY25. In constant currency, revenue growth was 1.3% QoQ and 7.5% YoY.

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